Introduction chapter 1

which of the following is not a central problem of economy

• How to produce

• when to produce

• what to produce

• For whom to produce

• When to produce

Labour intensive Technique are chosen in a

• Labour surplus economy

• capital surplus economy

• Developed economy

• Developing Economy

The word Economics is most closely connected with the word

• free

• scarcity

• unlimited

• restricted

Opportunity cost is the

Scarcity refers to

Give two examples of Macro economics

The

fundamental economic problem being faced is

• Unlimited

  human wants

• Limited

  wants and unlimited resources

• Unlimited

  wants and scarcity of resources

• Limited

  wants and limited resources

PPC is generally (Shape of the curve)

What is the slope of PPC curve

What do you mean by Positive Economics